There won’t be new taxes in this mid-year budget – Deputy Finance Minister

A Deputy Finance Minister, Dr Alex Ampaabeng has assured that, the government will not burden Ghanaians with new taxes in the upcoming mid-year budget.

In an interview on Accra-based Channel One TV, Dr Ampaabeng said there will be no supplementary budget, as communicated by the Finance Minister, Dr Mohammed Amin Adam.

However, he said the government will focus on exploring alternative revenue mobilisation avenues.

The Minister stated that, there are significant opportunities within the current tax framework that can be effectively leveraged for revenue generation.

“There are a lot of conversations ongoing, but one thing I can say on behalf of my Minister [Dr Mohammed Amin Adam] is that there won’t be new taxes in this mid-year budget. But, going forward, we are looking for all avenues to make sure that we enhance revenue.

“I believe there are a lot of opportunities within the tax system for us to rake in revenue. It’s about improving efficiency. It’s about dealing with leakages in the tax system, it’s about engaging the taxpayers to accept responsibilities. There are leakages, but I don’t want to pre-empt anything,” he stated.

The assurance comes amidst concerns of heavy tax burden on businesses and households, urging for the reduction or elimination of some taxes to alleviate financial pressures.